Sean Hannity linked to shell companies that spent $90M on property: report

[gwb-trading]

HUD loan guarantees. Idiot.

Yes, any investment real estate company would be an idiot to not take them -- when HUD is constantly pushing these loans as a way of clearing out foreclosures from banks. In fact since 2008 it is difficult for many real estate investors to get a loan to purchase a foreclosure unless it is a HUD loan.

The real problem is that the U.S. government learned nothing from the 2008 crisis. The banking standards are back to no income check, low credit score, no money down real estate loans to unqualified homeowners. All of this pushed by the Obama administration as a method of increasing minority home ownership. The problem is that if the people are not realistically qualified for a loan then they are going to default -- the loan should have never been extended to start with.

It is time to get back to proper standards for mortgage lending 20% down, income check required, and reasonable credit history.

 

[UsualName]

Yes, any investment real estate company would be an idiot to not take them -- when HUD is constantly pushing these loans as a way of clearing out foreclosures from banks. In fact since 2008 it is difficult for many real estate investors to get a loan to purchase a foreclosure unless it is a HUD loan.

The real problem is that the U.S. government learned nothing from the 2008 crisis. The banking standards are back to no income check, low credit score, no money down real estate loans to unqualified homeowners. All of this pushed by the Obama administration as a method of increasing minority home ownership. The problem is that if the people are not realistically qualified for a loan then they are going to default -- the loan should have never been extended to start with.

It is time to get back to proper standards for mortgage lending 20% down, income check required, and reasonable credit history.

The part about no income check and credit check is not true. Recently, banks have been testing the subprime market again but that has nothing to do with Obama. You made that up.

 

[gwb-trading]

The part about no income check and credit check is not true. Recently, banks have been testing the subprime market again but that has nothing to do with Obama. You made that up.

I would urge you to take a better look at the current subprime mortgage market. It is back to ‘07 again.

The disease has even spread to Canada as lending standards have dropped through the floor.

 

[UsualName]

I would urge you to take a better look at the current subprime mortgage market. It is back to ‘07 again.

The disease has even spread to Canada as lending standards have dropped through the floor.

I read the CNBC article on “non prime” mortgages growing and the large banks funding the secondary lenders, too.

It’s nowhere at the same level as 2007 but to blame it on Obama and some fictitious minority home ownership incentive is where my problem with your statement was. What you said simply wasn’t true.

 

[gwb-trading]

I read the CNBC article on “non prime” mortgages growing and the large banks funding the secondary lenders, too.

It’s nowhere at the same level as 2007 but to blame it on Obama and some fictitious minority home ownership incentive is where my problem with your statement was. What you said simply wasn’t true.

Are you denying that one of the priorities of the Obama administration was increasing minority homeownership? Are you denying that the Obama administration put several programs in place to lend to minorities who would not qualify for mortgages under normal lending standards?

 

[jem]

is anyone alleging corruption?

is there any indication Hannity got special treatment the way a bunch of Senators got special treatment from Countrywide before it went under?

I think we should have a problem with corruption not a businessman conducting business and taking risks on foreclosures and buying properties in neighborhoods which could turn down or could be in the path of progress and see dramatic gains.

Typically the real estate market is competitive and competition for under market properties is fierce... and if the govt is involved there is sometimes corruption and favoritism.

So, is anyone alleging corruption?

 

[AAAintheBeltway]

So, is anyone alleging corruption?

No, this is McCarthyism at its worst. Hey, it's all they have, so they go with it.

 

[Wallet]

No, this is McCarthyism at its worst. Hey, it's all they have, so they go with it.

Jealousy

 

[UsualName]

Are you denying that one of the priorities of the Obama administration was increasing minority homeownership? Are you denying that the Obama administration put several programs in place to lend to minorities who would not qualify for mortgages under normal lending standards?

You made the assertion. I am calling bullshit on your assertion. As a matter of fact under Obama we had Dodd Frank which increased lending standards and made it difficult for private banks to accrue large percentages of their portfolio as subprime. Washington Mutual is a prime example.

Now I know fanny and Freddie just allowed conventional loans to go to 3% down but that’s with credit and income qualifications. But, that was very recent.

As to Obama, show me the programs and subprime percentages. Right now, they are very low.

 

[UsualName]

is anyone alleging corruption?

is there any indication Hannity got special treatment the way a bunch of Senators got special treatment from Countrywide before it went under?

I think we should have a problem with corruption not a businessman conducting business and taking risks on foreclosures and buying properties in neighborhoods which could turn down or could be in the path of progress and see dramatic gains.

Typically the real estate market is competitive and competition for under market properties is fierce... and if the govt is involved there is sometimes corruption and favoritism.

So, is anyone alleging corruption?

Maybe not corruption but definitely unethical.

Hannity is basically an infomercial for Trump. He should be disclosing all of his ties to lawyers and agencies before they appear on his show. His having millions of dollars in business deals with HUD and legal services comprises the content of his show without any disclosure.

And, I know, he is a talk show host, not a journalist but he portrays himself as a journalist on his show.

The truth is Hannity is the biggest “fake news” going.